Spot Bitcoin ETF's daily trading volume tops $10 billion, breaking all-time record

The ETF performance coincides with BTC hitting new all-time highs.

This week, the spot Bitcoin ETF maintained its record performance, with trading volume exceeding $10 billion on March 5, its highest level since its launch in January.

The previous record was set on February 28, when total ETF trading volume was $7.7 billion.

IBIT and FBTC maintain their leading position

Three spot Bitcoin ETFs account for the majority of total trading volume. By the end of trading, net inflows across all ETFs reached $109.86 million.

BlackRock’s iShares Bitcoin Trust (IBIT) saw trading volume of approximately $4 billion on March 5, while Fidelity Wise Origin Bitcoin Trust (FBTC) saw trading volume of approximately $2 billion . Meanwhile, Grayscale’s Bitcoin Trust (GBTC) has reached $3 billion in daily trading volume.

Source: Bloomberg, Eric Balchunas

Bloomberg ETF analyst Eric Balchunas wrote on X:

"For an ETF that's less than 2 months old, these numbers are just crazy."

Earlier in the day, Balchunas predicted that the spot Bitcoin ETF could surpass previous records, as total trading volume hit $6 billion at around 7:53 PM UTC.

Individual ETFs set records

Balchunas pointed out that IBIT, FBTC, BITB and ARKB all set daily trading volume records.

He also observed that some non-spot ETFs, which can be used for strategic investment, have performed exceptionally well. The BetaPro Inverse Bitcoin ETF (BITI), the ProShares Bitcoin Strategy ETF (BITO), and the 2x Bitcoin Strategy ETF (BITX) all saw record trading volumes.

Overall, there are several Bitcoin ETFs that are among the most active. Data from Barchart shows that IBIT and BITO top the list, surpassing the S&P 500 ETF Trust (SPY) and the Nasdaq QQQ Invesco ETF (QQQ). GBTC and FBTC also rank among the top ten ETFs by trading volume.

The outperformance of the new nine ETFs has been a key driver of Bitcoin's recent price surge as demand outpaces supply. The flagship cryptocurrency hit an all-time high for the first time ahead of the halving.

As Bitcoin (BTC) prices hit new highs, all the trading volume coincided with Bitcoin (BTC) price hitting new highs. BTC briefly hit $69,324 on March 5, surpassing its all-time high of $69,044 in November 2021, before experiencing a severe price correction.

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